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2012 high-end sales

Some of the region’s most exclusive neighborhoods saw increases in high-end home sales last year. “Luxury” is defined as homes selling for at least $500,000 ($400,000 in North Avondale).

Community

Active listings

Houses sold in 2012

Houses sold in 2011

Median 2012 sale price

Indian Hill

75

78

66

$957,500

Mason and Deerfield Twp.

63

69

57

$640,346

Hyde Park and Mount Lookout

26

64

58

$635,000

Loveland, and Miami and Symmes twps.

39

54

46

$612,000

Anderson Twp. and Newtown

37

50

44

$622,500

Terrace Park

12

27

16

$680,000

West Chester and Liberty twps.

43

23

14

$550,000

Montgomery

22

21

20

$656,000

Mariemont

8

16

8

$614,443

Union

14

16

14

$554,000

Hamilton Twp. and South Lebanon

30

15

16

$590,000

Covington, Newport and Bellevue

27

11

19

$825,000

Villa Hills, Crescent Springs, Park Hills and Edgewood

15

9

12

$610,000

East Walnut Hills

9

8

10

$760,000

North Avondale

2

6

4

$432,500

Fort Thomas

7

6

8

$666,250

Mount Adams

19

5

8

$932,000

Amberley Village

14

4

5

$555,500

Fort Mitchell

3

4

6

$580,000

Clifton

3

3

5

$629,000

Downtown and Over-the-Rhine

16

2

2

$547,750

Source: Comey & Shepherd’s Greater Cincinnati Luxury Markets Report

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The “1 percent” in Greater Cincinnati and Northern Kentucky showed their confidence in the improving economy last year by buying and selling more luxury homes.

The 10 neighborhoods with the most high-end sales all saw more “sold” signs in 2012 than the previous year, according to Comey & Shepherd’s new Greater Cincinnati Luxury Markets Report, released exclusively to The Enquirer.

“It is even more of a discretionary market than the general market, so it’s more (reflective of) how people feel about their life situation and the overall economy,” said Scott Nelson, CEO of Comey & Shepherd. “Most of these people don’t have to move.”

Home sales in Cincinnati grew more than 12 percent in 2012, and Northern Kentucky and Southeast Indiana grew almost 15 percent each.

But Indian Hill, the region’s enclave of business elite and old-money families, saw an 18 percent increase in luxury sales, or homes $500,000 and up, in 2012. Mason/Deerfield Township saw a 21 percent increase, and the high-end Butler County communities of West Chester and Liberty townships saw a 64 percent increase.

“The high end is still not back to where it was by any means,” said Diane Tafuri, a longtime Sibcy Cline agent who sells luxury homes. “But I think we are on an upward trend now.”

Prices in the luxury market were all over the place in 2012. Of 21 total neighborhoods surveyed, half saw increases and half saw decreases. Indian Hill, the region’s largest and priciest luxury-home community, had a median sale price of $957,500 last year – 10 percent below 2011 but less than 2 percent below 2007.

The recovery is “inching around the corner,” Nelson said. “I would expect to see more of these markets with price increases next year – maybe three-quarters.”

The most expensive active listing locally is an estate built by grocery magnate Barney Kroger for one of his five kids. The 1929 Colonial, listed at $6.9 million, has 23 acres, nine bedrooms and a 21-stall barn.

“It’s a heck of a fun home,” said seller Ray Schilderink. His favorite space is the party house adjacent to the 30-by-60-foot heated pool.

Schilderink has enjoyed the property for 25 years but is thinking of a smaller house now that the kids have grown up. With the stock market hot and interest rates still low, Comey & Shepherd agent Steve Tranter hopes to sell the Kroger estate this summer.

“I think things are aligned for the right type of buyer,” Tranter said. “This is an opportunity to get a property that’s once-in-a-generation.”■